Monday, November 19, 2012

When I immigrated our family needed a sponsor who guaranteed that we would not become a burden on the taxpayer. The concept that you could move here and apply for food stamps, social security, medicaid, medicare, and other government provided benfits did not exist. Today the Obama administration is encouraging immigrants to become burdens on the taxpayer. The Left thinks it's the right thing to do.

·Let’s raise taxes to 50%
on people making more than $1 million dollars a year.How much will that raise? Warren Buffer says that the top 400 earners in the
US made $90 billion, so that means $45 billion to the
treasury. Plus it will satisfy Chuck Schumer.

·Let’s have a 100% sales
tax on the sale of movie tickets, CDs, videos and all other entertainment.These are purely luxury items and will not
affect the ability of the poor to live.Movies tickets, CD rentals and DVD sales alone should raise $30 billion.

·Let’s have a 100% sales
tax on newspapers and magazines.Circulation revenue for newspapers is $10 billion, let’s assume the same for magazines.That’s $20 billion in new revenue for
the government.Reporters and editors
have been calling for higher taxes and surely they would not mind doing their
fair share.

·Let’s have a 100% sales
tax on advertising in all media.Advertising is not only irritating but it is the way in which evil
corporations get us to spend our money on frivolous and unnecessary goods and
services. We should get about $100 billion just from the major networks and that isn’t
counting newspaper and magazine advertising which could double that number to $200
billion.

·Let’s tax all
foundations with assets over $100 million with a 10% tax of their assets each
year.Some of the biggest foundations
have been funding programs that increase taxes on the little people.Since they are in the business of
philanthropy, they should welcome doing their fair share.And while we’re doing that, let’s limit the
highest paid person working for the foundation to a salary of $75,000
annually.If they refuse to comply we’ll
revoke their tax exemption.The
hundred largest
foundations have assets over $236
billion dollars, and that only includes those with assets over $600
million.Total foundation assets are
about $500 billion.A 10% tax would
produce nearly $50 billion
per year.

·Let’s also tax
endowments with assets over $100 million with a 10% tax on their assets each
year.They, along with foundations,
should welcome doing their fair share.The Yale endowment alone is worth over $16 billion dollars and what do
they do with that? Not much that I can see.Does Yale need that money more than the people of the US?No!And while we’re doing that, let’s limit the highest paid person working
for the foundation to a salary of $75,000 annually.If they refuse to comply we’ll revoke their
tax exemption.Endowments total $250 billion; a 10% tax could raise $25 billion to help our
government balance its budget.

·We should investigate
the accounting practices of the movie industry.There is something seriously wrong with an industry that claims that
Forrest Gump never made a profit.We
don’t know how badly this industry has cheated the IRS, but let’s assume that $30 billion is a lowball
number.

In keeping with President Obama’s position that we
will do no “dynamic scoring,” we have already identified $400 billion
in new revenue to help close the deficit gap while only raising
taxes on 400 people!We have simply put
in some much needed sales taxes and are asking those who have been most vocal
about the need for everyone to do their fair share to come to the table.Surely no one could deny the reasonableness
of these proposals.

Now, if
anyone wants to tax the income of people like Bill Gates, Warren Buffett or the
buffoon who suckered thousands of people to fill his pockets by taking Facebook
public, people who already have all the money they could possibly spend in their
lifetimes at, say 100%, you would hear no objection from me.